Industry analyst Michael "Rainbow Pecs" Pachter is laying siege to Castle Nintendo once again, with one of his harshest appraisals of the company yet. Rather than beat around the bush, the silver-tongued stallion has directly said Nintendo's a bad company, and poured scorn on CEO Satoru Iwata.

"I think Nintendo is no longer able to compete the way they did in the past and sell their consoles at a big profit," he declared on his show Pach Attack. "I think that the Wii, when it first launched they were probably making about $100 of profit per unit. I think the DS when it first launched was probably generating about $50 of profit per unit. The 3DS I think is barely making a profit. The Wii U I think is barely making a profit -- I'm talking 5 or 10 bucks per unit."

Pachter doesn't lay any of the blame at Nintendo of America or its president, Reggie Fils-Aime. He argued NoA simply plays the cards it was dealt, and implied the Wii U was a bum hand -- a hand directly attributable to Iwata.

"I think Mr. Iwata's a pretty poor CEO," he explained. "I think he's done a very poor job running the company. I have a neutral rating on Nintendo, but I have to say only because their cash level supports their current share price. It's a bad company that doesn't make money."

As always, Pachter's words are primed to spark anger in the souls of Nintendo's loyal fans, and he's already got a response lined up.

"If you don't like that answer, Nintendo fans, deal with it."

Yikes!

What do you make of his assessment? Are you prepared to deal with it, or do you disagree and wish to make your voice known? Is he, as Tony Ponce suggests, a stuffy Lord Lemongrab, or is he making sense?